Everyone Else Holds On... Ethereum Plummets Alone Amidst US-Iran Conflict

▲ Ethereum (ETH)

The virtual asset market is facing a diplomatic stalemate between the United States and Iran, with Bitcoin (BTC) and major altcoins showing stable prices. In contrast, Ethereum (ETH) recorded a sharp decline, entering a no-trade zone.

Crypto media outlet Benzinga reported on May 12 (local time) that Bitcoin, XRP, and Dogecoin (DOGE) maintained a flat trend with little price fluctuation. Ethereum, however, could not overcome the market's downward pressure and showed a significant decline. This is a result of geopolitical risks dampening overall market investment sentiment.

News of the breakdown in peace talks between the US and Iran weighed on the market. President Donald Trump's rejection of Iran's proposal once again heightened uncertainty in the Middle East. These external variables exacerbated the avoidance of risk assets. In particular, Ethereum saw concentrated selling pressure compared to other major assets, leading to a larger decline.

Market analysts have currently classified Ethereum as a no-trade zone, recommending a cautious approach. This is because the price has broken away from technical support levels, increasing the risk of further decline. It is risky to take a long position until clear signs of a rebound appear. Investors are maintaining a wait-and-see attitude until price volatility subsides.

Bitcoin, XRP, and Dogecoin showed relatively robust defense. Bitcoin defended against downward pressure, maintaining the $81,000 level. XRP and Dogecoin also traded within a box range with no significant price fluctuations. Only Ethereum plummeted, creating a clear difference in sentiment among top assets.

Market uncertainty is expected to persist for some time as long as geopolitical conflicts remain unresolved. Ethereum's weakness acts as a factor inhibiting a rebound in the overall altcoin market. Investors are monitoring changes in international affairs and responding accordingly. Market liquidity is expected to remain limited until uncertainty is resolved.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*